Advertisement
Canada markets closed
  • S&P/TSX

    22,167.03
    +59.95 (+0.27%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CAD/USD

    0.7380
    -0.0007 (-0.09%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • Bitcoin CAD

    94,548.60
    -1,083.89 (-1.13%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • RUSSELL 2000

    2,124.55
    +10.20 (+0.48%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • NASDAQ

    16,379.46
    -20.06 (-0.12%)
     
  • VOLATILITY

    13.01
    0.00 (0.00%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • CAD/EUR

    0.6844
    +0.0001 (+0.01%)
     

JPMorgan's Dimon buys more than $25 million of company stock: source

JPMorgan Chase Chairman and CEO Jamie Dimon speaks during a discussion at the Aspen Institute in Washington in this December 12, 2013 file photo. REUTERS/Mike Theiler (Reuters)

NEW YORK (Reuters) - Jamie Dimon, chief executive officer of JPMorgan Chase & Co <JPM.N>, recently bought 500,000 shares of the company's stock worth more than $25 million, according to a person familiar with the matter.

JPMorgan shares closed at $53.07 on Thursday. The stock has fallen nearly 20 percent this year, in line with the decline of the KBW Bank Stock index <.BKX>.

JPMorgan shares have fallen as the outlook for bank profits has dimmed with expectations of continued low interest rates, higher costs for bad loans, particularly related to energy, and a slow economy.

JPMorgan said last month that its tangible book value, which is its net worth, was $48.13 per share at the end of December.

Dimon's share purchase was earlier reported by The Wall Street Journal.

(Reporting by David Henry in New York; Editing by Matthew Lewis and Leslie Adler)